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Possible Bitcoin Pullback to Daily .618 Fibonacci Support ZoneSimple Bitcoin analysis... > Daily formed a double top at all time highs with bear MACD and now possibly breaking the recent lows, horizontal support & .382 fibonacci. At this point... 1. Price can find support here at 58000.00 area/ recent lows, horizontal support, 50ema support & .382 fibonacci and move back up to recent highs. 2. Price can move back up from it's current support area and form a daily lower high (or just continue to fall from it's current price) and fall to 50500.00 area/ .618 fibonacci, horizontal support, trend line support & weekly 50ema support. Lots of support in the area for price to make a daily higher low and continue the current trend back up to all time highs. 3. If price breaks 0.618 / 0.75 fibonacci retracement support area as explained above ( 50500.00 to 47000.00 area ), it could move back down to daily recent lows around 41000.00 before finding support. I will be looking at the intraday charts to see how price action develops in these areas and wait for the lower time frames to confirm the higher time frames before taking a trade long or short.
by DaneilDG
COTI 1D Chart - 30%+ drop possibleCOTI on a 1D chart is looking like it is moving within an upward channel and we may be ready to see the price drop to get to the bottom of the channel. The price may have a 30%+ drop (assuming it gets to the 0.382 fib level) before moving upwards in the channel. Keep an eye on the RSI as well. What are your opinions on this? Comment below, hit the like and follow me. Thank you! Check out more below for recent Altcoin, Bitcoin and Stock Ideas. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
Short
by MillionaireEconomics
ELON/USDT. Update 11.24.21 From my previous post, you can see we how had a breakthrough; however, is not what we expected, we wanted a bullish breakthrough but did not happen. INSTEAD, Dogelon created a Higher Low, we had a Low already created back on Nov 4th 2021. If you look at my chart on the daily you can clearly see the High and Low of Dogelon, we have extended our triangle. I'm taking advantage of all the lows to add more to my position and stack a nice amount for the break and take profit partially and let the rest run once the breakthrough happens. At this point we just need to wait and see how the market behaves for the remaining of the days. IF everything goes according to how we see (although never happens and our job is to adapt to the market) the chart, the next possible breakthrough might be around "December 2nd" Like I stated earlier, market is unpredictable therefore all we have to do is adapt when it happens, all we can do is follow and execute the opportunities given to us. -NOT A FINANCIAL ADVISOR, THIS IS ONLY FOR ENTERTAINMENT PURPOSE. TRADE AT YOUR OWN RISK.
Long
by KasraInvestments
How To Trade The Symmetrical Triangle (Higher Lows, Lower Highs)Lower Highs are represented by the diagonal trend line. These lower highs are the resistance line. Higher Lows are represented by the diagonal trend line. These higher lows are the support line. Breakout Candlestick Retest Candlestick How To Trade The Triangle Chart Pattern First, Look For An Up Trend Second, Draw Diagonal Support Line and then draw Diagonal Resistance Line. These lines are your levels. Third, Wait For The Breakout Candle. Enter after the candle closes. Fourth, Wait For A Candlestick To Retest Diagonal Trend Line. Enter after the retest candlestick closes. Fifth, Set Target Using Height of Pattern
ZEducation
by TradeLive-
SPX: We are crashing! Time to panic?Hello traders and investors! Let’s see how the SPX is doing today! Yes, we have a systemic crash in the US, but we’ve seen worse. This crash seems to be related to US tech stocks and China only, as European markets are still quite resilient, especially FTSE (UK) and DAX (GER), which are leaving huge shadows under today’s candlesticks. As we discussed in my recent video, the SPX has no reversal signs , and even now, we lack bearish structure. We must see lower highs/lows in the 1h chart before assuming we’ll correct more. We have a support at the gap (black line, 4,369), and the index is seeking this point, for now. Remember: A crash is just a pullback, and it doesn't mean we are in a bear trend. However, I agree that the daily chart looks bearish already. The market might understand today’s movement as a false breakout from the previous top level, and we are heading to the next support at the 21 ema. If the crash is strong enough, we can retest the support around the 4,289 again. I find it hard to believe we would retest the purple trendline in the daily chart without a stronger bearish structure in the 1h chart. We can hit there, but we must see a clear reversal in smaller time-frames. Only time will tell if this is just a crash or the beginning of a bearish reversal. If it is a crash, then fine, it’ll be just an opportunity to buy, like it has been since April 2020. If it is the beginning of a reversal, then we must wait for more patterns to confirm our theory. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Thank you very much!
SP:SPX
by Nathan_The_Finance_Hydra
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